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New Investment, Management changes at Dryden Human Capital Group

New Investment, Management changes at Dryden Human Capital Group

Subsequent to a major round of Private Equity funding from Calculus Capital and YFM Private Equity Peter Dunphy has sold the majority of his remaining shareholding in the Group and stepped down as CEO of Dryden Human Capital Group, the international recruitment group which includes specialist insurance recruiter Darwin Rhodes and search firm Edison Morgan and specialist HR Recruiter Personnel Development Recruitment. He remains with the Group on a part time basis as an adviser and subsidiary Director.

The CEO role has been taken up by Alan Mackay, previously Deputy Group CEO and Managing Director of the Asia Pacific region.

Peter Dunphy said 2010- 2011 has been a record year for Company profits and after 15 years of building the Company through strong trading and recessionary markets I feel that the time is now right to step down as full time CEO and move on to new challenges. Alan has been instrumental in much of the development of the business over the years and with him taking over as CEO with the support of a strong Board and Management team I have every confidence in the future success of the business

Alan Mackay paid tribute to his predecessor I have worked with Peter for 13 years as he led the development and growth of Darwin Rhodes from an owner managed business of 3 people to a global recruitment business. I am now looking forward to the exciting challenge of building the Group further including developing new brands and expanding into new geographical markets

Calculus and YFMEPs backing will further support the expansion of Darwin Rhodes' unique model building organically and through acquisition, to other industries and geographies. We have a track record of successful expansion during all stages of the economic cycle and our board and investors are confident that Dryden Human Capital Group will continue to build on this success over the coming years." Alan Mackay, CEO

Susan McDonald has joined the board as a non-executive director. Susan is Chairman of Calculus Capital, the award winning independent private equity firm focussed on investing in smaller, private and proven companies. She has notably broad experience of company financing around the world, including 13 years in Asian capital markets.

YFM Equity Partners specialises in investing in businesses at a transformational stage in their development. David Bell said "We are delighted to be able to continue our support of the group which started in 2005. We would like to wish Peter well and are confident that Alan will continue the successful international expansion of this niche recruitment expert.

Dryden Human Capital is an international recruitment firm specialising in the actuarial, insurance and HR markets. The business is currently expanding its network of offices across Asia, Europe and the US alongside broadening the business into other areas of professional services recruitment. The recruitment firm's broadly spread revenue base consists of a portfolio of blue chip multinationals.

YFM and Calculus Funds backed Darwin Rhodes in a 1.3m investment, backing a successful and established management team.

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